EU Commission proposal on environmental classification passed – Finland objected to forest reasons, a total of 13 countries opposed the proposal

Brussels

EU the proposal has been accepted by the Member States environmental classification of investment targets that is, the taxonomy that Finland set out to oppose.

According to the Finnish Forest Industries Association, a total of 13 countries, including Finland, Sweden and France, opposed the Commission’s proposal for a first delegated regulation. However, this was not enough to overthrow the show.

Finland’s proposals on forest management were rubbed off.

Environmental classification, or taxonomy, means that the Commission provides funders and investors with a definition of which sites and projects are climate-sustainable. The aim is to get capital to flow into sustainable projects so that the EU can meet its climate goals.

Opponents should have been 20, the so-called confirmed qualified majority, for the proposal to have failed.

There was no vote on the motion, but the Member States announced by midnight their position. Some countries opposed the proposal, not least because the Commission does not yet comment on whether it classifies nuclear power as a sustainable way to produce energy.

EU countries adopted a taxonomy regulation as a basis for the guidelines in June last year, while empowering the EU Commission to adopt more detailed provisions through so-called delegated regulations.

This is only the Commission’s first set of provisions. There will be more criteria for forestry that promotes biodiversity.